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FROM COST CENTER · challenge – one that consumes more and more procurement energy, but often...

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Page 1: FROM COST CENTER · challenge – one that consumes more and more procurement energy, but often results in more outages, more overstocks, and a higher total cost of ownership. This
Page 2: FROM COST CENTER · challenge – one that consumes more and more procurement energy, but often results in more outages, more overstocks, and a higher total cost of ownership. This

In our era of fragmented supply chains and fast-changing market demands, inventory management has become a slippery challenge – one that consumes more and more procurement energy, but often results in more outages, more overstocks, and a higher total cost of ownership.

This is especially true for the hundreds (or thousands) of day-to-day consumables you rely on to run your business – items that are small and inexpensive individually, but highly complex and costly to manage in total.

With a broad-line product offering, tailored in-market inventory, and a dedicated local service team, Fastenal is ready to help you reduce inventory, delays, processing, and freight – freeing up cash, time, and talent for you to grow your business faster.

FROM COST CENTERTO COMPETITIVE EDGE

Page 3: FROM COST CENTER · challenge – one that consumes more and more procurement energy, but often results in more outages, more overstocks, and a higher total cost of ownership. This

Inventory is strategically positioned, well organized, and clearly labeled.

Spend less time walking and searching, more time on things that generate profits.

Your inventory needs are stocked locally and supplied through a

consistent service schedule.

Reduce inventory, outages, and costly rush orders; improve working capital and productivity.

If desired, our local team can monitor your inventory and put the

product away.

Less inventory build-up, more productive use of labor.

Our regional DC adapts its inventory based on usage patterns and forecasted

needs, orchestrating efficient delivery routes to keep product flowing.

Reduce freight costs through smart inventory planning and utilization of Fastenal’s logistics fleet.

Virtually any fastener or indirect product need can be sourced through

our network of qualified suppliers.

Cost savings through vendor consolidation and product standardization/substitutions.

Custom reports give you insight into usage by location, GL code, and other

metrics you define.

Simplify job costing, uncover opportunities to further optimize inventory.

WHAT WE BRING WHY IT MATTERS

Organization

Visibility

Proximity

Service

Planning

Scope

Page 4: FROM COST CENTER · challenge – one that consumes more and more procurement energy, but often results in more outages, more overstocks, and a higher total cost of ownership. This

Fastenal has been a pioneer in industrial VMI since the early 1970s (before the term ‘VMI’ even existed). Over the years this service has become absolutely central to who we are: a supply chain partner who’s ‘local’ enough to handle the heavy lifting of material manage-ment, but ‘global’ enough to bring true value to the venture – in terms of sourcing, logis-tics, quality assurance, implementation, and engineering and lean six sigma consultation.

LOCAL SERVICE

Page 5: FROM COST CENTER · challenge – one that consumes more and more procurement energy, but often results in more outages, more overstocks, and a higher total cost of ownership. This

Your Fastenal representative visits on a regular service schedule to maintain your desired min/max inventory levels.

eQuotes are sent with suggested replenishment orders – simply review, make any necessary edits, and approve.

We implement a bin stock solution that makes supplies easy to identify and access.

PROCESSTHE

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Page 6: FROM COST CENTER · challenge – one that consumes more and more procurement energy, but often results in more outages, more overstocks, and a higher total cost of ownership. This

AUTOMATED SOLUTIONS

Our electronic solutions extend ‘the Internet of things’ to your bin stock inventory, utilizing various sensing technologies to report your current inventory status and automatically generate orders when inventory falls below your desired minimum level – a fully automat-ed process ensuring seamless product flow.

Page 7: FROM COST CENTER · challenge – one that consumes more and more procurement energy, but often results in more outages, more overstocks, and a higher total cost of ownership. This

A series of infrared beams within the bin sense and report three basic inventory lev-els – ‘above min’ (all is well), ‘below min’ (an order is generated), and ‘low’ (alerting your Fastenal service representative to head over right away).

A classic two-bin (or multi-bin) kanban system … with a twist. When the front bin runs out, the user places it in a ‘replenishment zone,’ where an RFID tag on the bin signals a change in the inventory status and generates an order to the local Fastenal branch.

Unlike our infrared and RFID solutions, which communicate approximate inventory levels (full, below min, etc.), our scale technology uti-lizes high-precision weight sensors to provide a real-time view of the exact number of pieces in each bin – a good fit for critical or high-value OEM parts.

– INFRARED

– RFID

– SCALE

Page 8: FROM COST CENTER · challenge – one that consumes more and more procurement energy, but often results in more outages, more overstocks, and a higher total cost of ownership. This

Fastenal-managed solutions rely on our personnel or technology to monitor your inventory and generate replenishment orders. But what if you prefer to handle these tasks internally?

Enter Fast Scan, our iOS-based scanning solution. Simply scan the bar code labels of the bins that need to be refilled, then send the order via Fastenal.com to your servicing Fastenal branch for flexible fulfillment – an efficient solution that keeps you in complete control.

SELF-SERVICE SCAN

Page 9: FROM COST CENTER · challenge – one that consumes more and more procurement energy, but often results in more outages, more overstocks, and a higher total cost of ownership. This

We organize and label your bins and help you get set up on Fastenal.com with initial min/max levels, users, approvals, and other custom settings.

Utilize our scanning app to scan, review and submit orders via Fastenal.com, where you can also adjust settings and shop additional items to add to your order.

We can either deliver orders to your dock or put the product away, whichever you prefer.

PROCESSTHE

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Page 10: FROM COST CENTER · challenge – one that consumes more and more procurement energy, but often results in more outages, more overstocks, and a higher total cost of ownership. This

With 3,000+ locations spanning North America and the world, we offer a compelling value proposition for our OEM customers: dedicated local inventory and personnel, backed by consistent contract pricing and best-in-class resources to ensure a consistent flow of quality product.

OEM SOLUTIONS

Bringing expertise in process mapping, value engineering, and system design and implementation.

Lean Solutions Specialists Quality Assurance Kitting

ManufacturingDistributionEngineering Support

Anchored by our ISO 9001 operations, multiple A2LA-accredited quality labs, and some of the world’s most experienced and influential fastener quality experts.

Custom assemblies (and sub-assemblies) with labeling to display part numbers, lot numbers, logos, and other custom information.

Engineered solutions to meet your needs, from complex replacement parts to Made in the USA production fasteners.

Our captive logistics network has been built from the ground up to fluidly transport heavy materials and economize freight for our customers.

A team of degreed engineers to solve problems, suggest improvements, and provide insight into the science behind bolted joint applications.

Page 11: FROM COST CENTER · challenge – one that consumes more and more procurement energy, but often results in more outages, more overstocks, and a higher total cost of ownership. This

Reach out to your local Fastenal service team to see how we can help your business run leaner, move faster, and do more of what you do best.

YOUR OPERATIONELEVATE

Page 12: FROM COST CENTER · challenge – one that consumes more and more procurement energy, but often results in more outages, more overstocks, and a higher total cost of ownership. This

9706296_FMPM-7520 FAST Solutions Bin Stock | JF 8.18 | Printed in the USA


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